Within this essay the questions of if and how the theoretical considerations of the transaction cost theory for the market of Scandinavian coniferous lumber are also valid for Germany were analyzed. For this, the market is analyzed from the point of view of the different actors (agents and brokers, sales office, importing sawmills). It becomes evident that many problems from the daily working experience can be analyzed with the help of transaction cost theory. In particular, assumptions on human behavior such as «bounded rationality» and «opportunism», which are described by this theory, play an important role in all aspects.

transaction cost theory, New Institutional Economics, Nordic sawntimber market, timber agents, international timber trade
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© 2007 Schweiz. Z. Forstwes
2007